COMMISSION FOR THE PROTECTION OF COMPETITION

The Service of the Commission for the Protection of Competition has received notification of a concentration, according to Section 10 of the Control of Concentrations between Enterprises Law of 2014, concerning the acquisition of the share capital of Hawaii Hotels Limited by Fattal Limassol Limited.

Fattal Limassol Limited is a company duly registered under the laws of Cyprus. The company constitutes a special purpose vehicle with no previous business activities that was founded in order to operate as an acquisition vehicle for the purposes of the Proposed Transaction. Fattal Limassol Limited participates in the Fattal Hotel Group and is ultimately controlled by a natural person.

Fattal Hotel Group constitutes the largest hospitality organisation in Israel and one of the developing hotel groups in the United Kingdom and Europe. The group operates hotels in 20 countries and has under its management a number of hotels.

Hawaii Hotels is the owner and manager of the five star (5*) Grand Resort hotel in Limassol.